Tredje AP fonden Has $12.38 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Key Points

• Tredje AP fonden significantly increased its stake in First Solar by 446.7%, acquiring an additional 80,000 shares during the 1st quarter, bringing its total ownership to nearly 0.09% valued at approximately $12.4 million.
• First Solar reported earnings of $1.95 EPS for the last quarter, falling short of analysts' expectations of $2.50 EPS, with revenue totaling $844.57 million, below the consensus estimate of $863.11 million.
• Equities analysts have mixed views on First Solar, with several lowering their price targets; however, the average rating remains a "Moderate Buy" with a target price of $225.73.

Tredje AP fonden increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 446.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,910 shares of the solar cell manufacturer's stock after buying an additional 80,000 shares during the period. Tredje AP fonden owned about 0.09% of First Solar worth $12,379,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Garde Capital Inc. purchased a new stake in shares of First Solar during the first quarter worth $25,000. Larson Financial Group LLC grew its holdings in First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after buying an additional 219 shares in the last quarter. Abound Financial LLC purchased a new stake in shares of First Solar in the first quarter worth about $45,000. Princeton Global Asset Management LLC bought a new position in shares of First Solar in the first quarter valued at approximately $51,000. Finally, Banque Transatlantique SA bought a new stake in First Solar during the 4th quarter worth approximately $53,000. Institutional investors own 92.08% of the company's stock.

Insider Activity at First Solar

In related news, CTO Markus Gloeckler sold 9,557 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares in the company, valued at $1,246,136.85. The trade was a 54.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Koralewski sold 2,951 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider owned 11,369 shares in the company, valued at $1,798,689.49. The trade was a 20.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is owned by insiders.

First Solar Price Performance

Shares of FSLR traded up $0.66 on Monday, hitting $184.63. The company's stock had a trading volume of 1,356,016 shares, compared to its average volume of 3,864,942. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The company has a market capitalization of $19.80 billion, a PE ratio of 15.80, a PEG ratio of 0.35 and a beta of 1.48. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The company has a 50 day moving average price of $165.81 and a 200 day moving average price of $152.90.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.03 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%. The company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.25 EPS. On average, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. UBS Group reaffirmed a "positive" rating on shares of First Solar in a research note on Tuesday, July 8th. Oppenheimer lowered shares of First Solar from an "outperform" rating to a "market perform" rating in a report on Wednesday, April 30th. Susquehanna lifted their price objective on shares of First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a report on Friday. Finally, Barclays decreased their target price on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $221.90.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.